Semtech Corp. (SMTC) PT Raised to $50 at Baird; LoRa Momentum Accelerating
Baird raised its price target on Semtech Corp. (NASDAQ: SMTC) to $50.00 (from $45.00) while maintaining a Outperform rating on LoRa revenue momentum.
Analyst Tristan Gerra also noted renewed momentum across business lines including PON, while data center remains a key growth driver.
"LoRa could drive further revenue acceleration next year towards 10% overall growth, in our view," he said.